Indian Economy News

Cabinet has approved seven projects for Indian railways with an outlay of Rs. 32,500 crore (US$ 3.90 billion)

  • IBEF
  • August 17, 2023

According to Union Railway Minister Mr. Ashwini Vaishnaw, the Cabinet, presided over by Prime Minister Mr. Narendra Modi, approved seven multi-tracking projects with an outlay of Rs. 32,500 crore (US$ 3.90 billion) for the Indian Railways.

The aforementioned projects, which would be developed entirely under the engineering, procurement, and construction (EPC) process, will extend the Indian Railways' current network by 2,339 km, according to the minister.

The central government will fund 100% of all the projects. In Andhra Pradesh, Bihar, Gujarat, Jharkhand, Maharashtra, Odisha, Telangana, Uttar Pradesh, and West Bengal, they will cover 35 districts.

Sought to ease operations and reduce congestion, the projects will also add freight traffic of around 200 million tonnes per annum. Furthermore, the projects will provide employment of 7.06 crore person-days to the people of the selected states.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.